Former Walt Disney CEO Bob Iger thinks that in order for Disney to reach its goal of 230 to 260 million Disney+ subscribers by 2024, they need to produce content that has more of a variety and works for a wide audience of people.
“I think Disney+ needs more volume,” Iger said. “And there probably needs to be more dimensionality, meaning, basically, more programming or more content for more people, different demographics. But, [CEO Bob Chapek] is aware of that and is addressing those issues.”
In an interview with CNBC’s David Faber, Iger told him, “There’s guidance out there that the company has provided that I’m neither going to update or comment too much on… Obviously, the company has expressed confidence in its ability to achieve the guidance that it has out there.”
The streaming service is widely known for its massive catalog of family-friendly content, which includes classic Disney and Pixar animated features. Its library also contains series tied to the Marvel Cinematic Universe, such as “Loki” and “Hawkeye” as well as the Star Wars series “The Mandalorian” and the upcoming “The Book of Boba Fett.”
During its fiscal fourth-quarter earnings report in November, parent company Disney emphasized its subscriber goal. At the time, Disney+ had 118.1 million subscribers. On Monday, Disney’s stock closed at $146.47, down 1.5%. Since the beginning of 2021, Disney shares have fallen 19%, putting its market value at $266.23 billion.
In order to diversify, Disney has worked with top artists like Taylor Swift and Billie Eilish to bring a unique and exclusive experience to its subscribers. Also, the recent documentary “The Beatles: Get Back,” about the making of The Beatles’ 1970 album “Let It Be” was a great way to reach older audiences. This diversified content can bring in new consumers.
However, looking at Disney+’s January 2022 slate, it doesn’t look like they are producing diverse content any time soon. New titles such as “The Ice Age Adventures Of Buck Wild” and the very anticipated “Eternals” are typical Disney+ genres.
So when will Disney fully branch out from its family-friendly roots? Time will tell.